Summit Power International Limited (Summit) and JERA Asia Pte Ltd (JERA Asia), a subsidiary of JERA Corporation of Japan, have signed a memorandum of understanding (MoU) to collaborate on developing a "carbon neutral roadmap" for Summit while supporting Bangladesh's continued socio-economic development.

The signing ceremony took place in Tokyo on Monday, said a press release.

To accelerate adoption of renewable power generation in Bangladesh and support its Paris Agreement goals, the MOU includes pathways for establishing zero emissions targets for Summit, outlining a roadmap to achieve these targets and identifying opportunities to deploy greener fuels such as hydrogen or ammonia in support of decarbonization efforts.

On the occasion, Ayesha Aziz Khan remarked, "As a member of the Climate Vulnerability Forum (CVF), Bangladesh has the ambition to supply 40 percent of its energy needs from renewable sources by 2041. In line with this, Summit, along with our partner JERA, is aspiring to implement the best practices and adaptation knowledge to reach our zero emissions targets."

Toshiro Kudama stated, "JERA Asia is pleased to have the opportunity to work with Summit on its decarbonisation efforts in Bangladesh... We believe we can draw on the experiences of JERA and Japan to support Summit and Bangladesh."